Tesla Model Y

irvinehomeowner said:
Just so you know, there is no requirement to use the Fed tax credit to reduce the capitalized cost when leasing.

That is why it's usually better to buy than lease for EVs... unless, like Kenkoko said, the leasing company (usually the maker) rolls that savings into the lease.

Since there is no more Fed credit for Tesla, then leasing vs purchase is the same as any non-EV car and then you have to compare the numbers such as residual and money factor.

But then, those things become less important when you compare the cost of leasing comparable cars for the same time period if the intent is not to buy out the lease at the end. You should put as little upfront money into the lease as possible... which I need to look into because so far it looks like $4500 is the lowest you can put in although when I was looking at the X and the 3, you can lower that amount down to $500.
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I generally prefer leasing for the same reason you posted earlier. It's just fun to drive a new car every 30 / 36 months.

While I agree it's better to buy a Tesla, it makes a lot of sense to lease an EV like a BMW i3 because of tax credits and incentives. (Full disclosure, we own a model X and are leasing a BMW i3 REX)

BMW has insanely high residuals for their i3s. Not sure if this is on the carmaker or dealer. They had 64% residual for 30 month lease & 58% residual for 36 months lease on I3s. On top of the 7.5k fed tax credit, you can get 2k loyalty credit, 1k holiday / event promo credit.

10.5k tax credit + incentives goes directly to cap reduction. Combine that with high residual value = cheap lease price $235/month for BMW i3 REX (50k MSRP).

Not saying an I3 REX is a better car than model Y or even model 3. But $235/month vs $399/$499 is pretty compelling.

For us the I3 serves as a commuter car so it was a slam dunk.
 
best_potsticker_in_town said:
Yeah you get a $2k rebate from CA - a check in the mail, not a tax credit. You also get $1k from SoCal Edison.
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And unlike the Fed credit, you can get the CA and SCE rebates whether you lease or buy.

So even if Tesla requires $4500 down to lease, that's really only $1500 with the rebates and then a $499 monthly (before savings). We've paid more for luxury car leases so this is kind of a no-brainer.
 
@Ken:

Is that BMW I3 lease still active? Someone mentioned that before but when I went to look for it, I couldn't find it.

The other problem is the I3 is really small... I've sat in one at a few car shows and it's cramped. Maybe something for my kids some day.
 
irvinehomeowner said:
@Ken:

Is that BMW I3 lease still active? Someone mentioned that before but when I went to look for it, I couldn't find it.

The other problem is the I3 is really small... I've sat in one at a few car shows and it's cramped. Maybe something for my kids some day.
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7.5k fed tax credit is still there. They run 1k promo incentive every major holiday + a few BMW specific events every year. The 2k loyalty incentive is always available if you are currently leasing a BMW. But it's also available for current BMW owners. ( I think they allow extended family. I got it on my first BMW lease because my father-in law owned one  ;D)

It's really a commuter car. Very comfortable for 2, but that's all.

If they offer similar deal on BMW I4, I'd jump on it when my I3 lease expires.
 
So it comes down to choose one from these for this Model Y.

1. LEASE* - $1500 down (with rebates) and $500/month for 3 years

2. BUY - $1500 down (with rebates) and $700/month for 6 years

The only difference is it's yours with #2.

*You still have to pay the first month's payment + acquisition fee + return fee = about $1600.
 
million dollar question is if they allow lease buy outs on the Y
On the model 3, you can't buy out the lease after the term is due, you have to give it back to tesla (different than most leases)

wonder if they will allow it on the Y
 
Mety said:
So it comes down to choose one from these for this Model Y.

1. LEASE* - $1500 down (with rebates) and $500/month for 3 years

2. BUY - $1500 down (with rebates) and $700/month for 6 years

The only difference is it's yours with #2.

*You still have to pay the first month's payment + acquisition fee + return fee = about $1600.
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Yup this is YF. (the car guru)
 
I went to the Tesla shop in Mission Viejo yesterday and they have a Y on display. My god it looks nice and I would hands down bought this car over my 3 if it was out back then. I'm running the numbers and contemplating selling my 1.5 year old 3 to buy a Y.
 
There is a test drive and service center at Lake Forest Alton / Commerce. Went in today to test drive the Y, ran the number and 59k with two upgrade option.

Hmmmm, now I to see if it better to wait for the cyber truck. Or just buy the Y and have fun with it.
 
It's definitely an interesting case study. There are probably so many reasons, but a few of the bigger ones I see:
- Simply better technical specs: range, efficiency, price, charging rate, etc
- Smaller, nimble company w/no conflict of interest: don't have to worry about cannibalizing sales of own brand's gas cars. EV cars are the focus, not the side project.
- Vertical integration: Tesla invests and makes a lot of their own parts, especially the battery. Saves on time and can adjust quicker.
- Brand value: They've developed a fandom just like Apple did. Have a worshiped leader just like Apple (used to). Tesla subreddit has 750k+ members. Next highest BMW has 150k.

Tesla definitely has their faults, but you can't say what they've done is unimpressive. I really see them like Apple in the 2000's. However, I do see other manufacturer's catching up, but it will be a few years.
 
My next car will be electric, and tesla is in the lead.
It's mainly due to battery tech.
 
I've been pushing my M3 SR+ and the handling continues to blow me away. It's more fun than the 911 I was contemplating and obviously much more comfortable, and just as fast.
 
picked up model y a few weeks ago. coming from bmw and it's much more fun to drive.

referred myself for a tesla solar system so i'll also be getting $400 back on that once it's installed - permitting in process now.
 
Saw my first Tesla Y in Irvine. First I thought it was an X but had the separate rear door handles (no Falcon wing) and had the Gemini wheels.

I really want one now. Just need to figure out how to get rid of my current vehicle. :(
 
irvinehomeowner said:
Saw my first Tesla Y in Irvine. First I thought it was an X but had the separate rear door handles (no Falcon wing) and had the Gemini wheels.

I really want one now. Just need to figure out how to get rid of my current vehicle. :(
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vroom and carvana are great options. just enter your details on their website and they come back to you with a price almost instantly. if one comes in higher than the other you can ask them to beat and squeeze a little more out of the sale.  i was able to get out of my bmw lease early because vroom offered me more than my lease buyout.  they cut bmwfs a check to buy the car and i get anything extra.

used car market is hot right now because nobody wants to take public transportation, so good time to get rid of used cars in good shape.
 
Kings said:
picked up model y a few weeks ago. coming from bmw and it's much more fun to drive.

referred myself for a tesla solar system so i'll also be getting $400 back on that once it's installed - permitting in process now.
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But electric cars and solar panels are not for Republicans. It goes against the Trump platform. Support dirty coal technologies . ;)

Green jobs and solar technology is a joke according to Trump. I guess this Maga is jumping ship like the rest of middle of America.

Make sure you sport the Covid4life bumper sticker.
 
eyephone said:
Kings said:
picked up model y a few weeks ago. coming from bmw and it's much more fun to drive.

referred myself for a tesla solar system so i'll also be getting $400 back on that once it's installed - permitting in process now.
Click to expand...

But electric cars and solar panels are not for Republicans. It goes against the Trump platform. Support dirty coal technologies . ;)

Green jobs and solar technology is a joke according to Trump. I guess this Maga is jumping ship like the rest of middle of America.

Make sure you sport the Covid4life bumper sticker.
Click to expand...

it's a good thing life is not black or white  ;)
 
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